Tax reform dilemmas: Taxing agri, adjusting exemptions key to fairness | Expert Views
Discussions on enhancing economic growth in the country, as well as those on fiscal sustainability, zero-in on the need to raise the tax-to-gross domestic product (GDP) ratio for India. This is based on the premise that governments need to — and can— play a larger role for the country to achieve its aspirational goals. Reduction in subsidies and the rationalisation of expenditures, too, find mention, but the political economy challenges in undertaking these changes are well recognised.
Two important tax bases to examine are: Personal income and land and property. Two contentious issues to consider in taxation of
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